Ira should seek specific performance.
- A particular remedy called specific performance is utilized by courts when no other option, such monetary compensation, will fully satisfy the other party. The court will choose that option instead if it will put the injured party in the same situation as if the contract had been fully completed.
- A court may order a party to carry out a specific conduct, such as completing the contract's performance, as a form of equitable relief under the law of contracts.
- If damages are a suitable alternative, it is normally not accessible but is typically available in the sale of land law. Contracts for personal services nearly seldom allow for specific performance.
Thus this is the answer.
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Answer:
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Answer:
<u>Prize is $22,071.39 worth today</u>
Explanation:
Present value of Annuity = A*[(1-(1+r)^-n)/r]
A - Annuity payment = 500
r - rate per period = 6/12 = .5%
n - no. of periods = 50
Present value of Annuity = 500*[(1-(1.005)^-50)/.005]
= 500*[(1-0.77928606825)/.005]
= 500*44.14278635
= $22,071.39
Since the cost of $20,000 has been incurred two years ago, the firm should check and see as to how many units of the product were produced in the two years. Did the firm produce enough items to break even the cost of acquisition. Additionally the business should also check the current market value of this two year old equipment. The business manager should weigh in the savings that is to be obtained from outsourcing along with the resale value of the old machine and then take a declension as to whether the company should go for outsourcing. Also, the business manager must examine whether the outsourcing can happen for the long run. This is because two years down the line, outsourcing may have increased the cost and again another process may look attractive. So a through cost benefit analysis should be made before taking a decision.
Answer: No deduction can be claimed this year.
Explanation:
The options to the question are:
a. No deduction can be claimed this year.
b. $5.50 million
c. $2,500,000
d. $5.50 million only if the professional golf tournament is played before April 15.
Answer:
Since Ajax Computer company is an accrual method calender-year tax payer, the computer company would recognize the expenses only when such expenses are incurred and not at the time that cash is being paid for the the expenses
Ajax computer company already paid in advance for both advertisements the following year even though the advertisement eanst taking place that year. Therefore, the payments will not be considered to be an expense until advertisements has actually taken place. Because of this, Ajax cannot deduct the amounts paid for the advertisements next year and hence, no deduction will be claimed this year.
